Medical Office Property with
New
For Sale
$147,500
15 S Verona Ave, Avon Park, FL 33825
A second building provides additional space for storage.
Property Size1,200 SF
Price / SF$122.92
Days on Market2
Property Features for 15 S Verona Ave
General Information
Standard status
Active
Size
1,200 SF
Building Details
Year Built
1954
Buildings
2
Listing Agency:
PROPERTY WAREHOUSES OF AMERICA
Listed By:
Louis Vincent · License #3069768
(321) 234-2683
Source:
Livewelltampabay
Added: Sep 26
Last Checked: Sep 26 at 2:55PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of PROPERTY WAREHOUSES OF AMERICA
Investment Insights
Based on property information with market context.
This 1,200-square-foot medical office property was most recently used as a clinic. A second building measuring 15 by 30 feet offers storage space. The property was built in 1954, and office, clinic, and retail uses are identified as potential options.
Located at 15 S Verona Ave in downtown Avon Park, the property fronts a high-traffic street.
Located at 15 S Verona Ave in downtown Avon Park, the property fronts a high-traffic street.
Key Highlights
- 1,200‑square‑foot medical office property
- Second building measures 15 by 30 feet and provides storage
- Most recently used as a clinic
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,215
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$244,300
$244.3K
Cap Rate 7%
$174,500
$174.5K
Cap Rate 9%
$135,722
$135.7K
Market Conditions
NOI Build-Up for 1,200 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$20.9K $17.40/SF
− Vacancy
−$4.6K −$3.83/SF
EGI
$16.3K $13.57/SF
− OpEx
−$4.1K −$3.39/SF
NOI
$12.2K $10.18/SF
Area
Highlands County, FL
Vacancy
22.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$244,300
Cap Rate 7%
$174,500
Cap Rate 9%
$135,722
Alternative Uses
Best Use
Office B
$174.5K
$152.7K – $203.6K
NOI $12,215 @ 7.0% cap · market cap 8.28%
Second Best
Retail
$161.1K
$141.0K – $188.0K
NOI $11,277 @ 7.0% cap · market cap 7.65%
Theoretical Best
Office A
$249.7K
$218.5K – $291.3K
NOI $17,476 @ 7.0% cap · market cap 11.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
393
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33825, FL
24,943
Population
12,519
Households
2
Avg Household Size
49
Median Age
13%
College-Educated
83%
High-School Grad
112.8 sq mi
ZIP Area
221
Density / Sq Mi
$46,604
Median Household Income
$32,352
Median Earnings
$902
Median Rent
$152,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - A second building provides additional space for storage.
Where is this medical office space located?
The property is located at 15 S Verona Ave Avon Park, FL.
What is the asking price?
The asking price for this property is $147,500.
What are key features of this property?
This property features: 1,200‑square‑foot medical office property; Second building measures 15 by 30 feet and provides storage; Most recently used as a clinic
